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Hi All: I'm dipping my toe into day and swing trading (so to speak). I wanted to, as part of some technical analysis, identify securities that have formed solid bull flag or penant setups. But, after going through the screener for my brokerage account and google searching forever, I cannot seem to find ANYWHERE that screens for these things. Am I missing something? If someone could point me in the right direction I would be much obliged. Thank you! tesseract
For all the different methods of technical analysis employed to place a trade and all the different forces within markets nowadays, do simple patterns still have a place in your repertoire of trades? Well, I would personally say that the answer to this question is a categorical yes with the one qualifier that the pattern must be a strong indication of the underlying auction and the inventories being added to or squared up. One such formation that I really like(given that I have done well from it in the past) but probably under utilise is the Flag Formation and in my next post, I'll discuss the ins and out of trading it.